General Information
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Why should I pay a CPA to do my personal/business taxes when I can do them myself?
According to the IRS, it takes an average person 14 hours or more to prepare their tax returns each year. A CPA will not only take over this daunting task for you, but will also provide you with the opportunity to review your financial situation and make necessary adjustments for life changes and financial goals. CPA’s provide you with the confidence and security that you are taking advantage of every opportunity allotted to you under the current tax laws, while reducing the risk of an audit.
CPA’s are taking a much more active role in the planning aspect of client’s lives, rather than the reactive role of just reporting results. They can assist in planning, both tax related and financial related, for both individuals and businesses.
CPA’s can issue a financial statement with an opinion. It makes the reader more confident that the numbers represented on the statements are real.
My returns are not that complicated!
Chances are your tax returns are not that complicated. However, most individuals are not aware of current changes in tax laws and procedures. For example, did you know that it is possible to shift income from one year to another to avoid paying higher taxes?
This is a “loop hole” that not even the most advanced public tax preparation software would tell you about. These “at home tax programs” also do not ask the right questions to properly identify which programs apply to you or your business. Only a professional, with all of your information in hand can do this.
CPA’s are required to be licensed in the state of which they work and take continuing education classes, to stay current on tax and accounting regulations, insuring that you get the most up to date responses to your needs.
How can I afford a CPA?
This all depends on how important your money is to you. The true value of a CPA can not be related in terms of money; the value of the information and resources they provide is invaluable. The material cost of having tax information prepared is nominal compared to the benefits you receive from having a CPA.
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